OREANDA-NEWS. Over the long weekend, VTB's management made several public statements regarding the bank's near-term plans. First, the bank confirmed the expected sale of its share in EADS by year-end to the United Aviation Corporation. It also stated that the price of the sale would not result in losses on VTB's balance sheet. Second, the bank still plans to issue Eurobonds worth 1 bln by
the end of the year and attract RUB 17 bln in loans from the CBR. Third, on November 15 the bank plans to announce an offer to PSB minorities for a buyout or conversion into VTB's shares. It will finally announce the coefficients for the latter, though it expects that most PSB shareholders would prefer shares.

Alfa Bank's experts believe the VTB management's certainty that the bank will have improved access to funding suggests that it expects to gain market share as a result of the current liquidity squeeze, and that selling its EADS shares will also provide funding for the bank's expansion.